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Rich countries’ betrayal at COP26 will worsen debt crisis

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In response to the final outcome of COP26 today, Heidi Chow, Executive Director of Jubilee Debt Campaign said: 

Rich polluting countries have once again washed their hands of their responsibility for creating the climate crisis and betrayed lower income countries by ignoring their demands for compensation Wealthy governments have already broken their promise to provide $100 billion a year of climate finance by 2020 and have now throwtheir weight to block demands for greater climate finance through grants not loans and have refused to give a single penny for loss and damageClimate vulnerable countries that are already saddled with mounting debt will be forced to take on even more unjust debt to pay for a crisis they did not create. This is a massive kick in the teeth to lower income countries as wealthy governments continue to pass the buck onto the communities and countries most impacted while worsening both the debt and climate crises.” 

 

Notes  

The Jubilee Debt Campaign is a UK charity working to end poverty caused by unjust debt through education, research and campaigning: http://www.jubileedebt.org.uk 

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